Anthony Bonen
Expected Completion
Fall 2016
Curriculum vitae (PDF)
Dissertation Title
Essays on Shareholder Value, the Cost of Equity and Investment Cycles
Profile
Research Interests
Macroeconomics, Macro-Financial Econometrics, International Political Economy, Economic Sociology, Critical Legal Study Applications to Economic Theory, and Climate Change Economics.
Areas of expertise
Applied Macroeconomics, Macro-Financial Econometrics, International Political Economy, Economic Sociology, Critical Legal Study Applications to Economic Theory, and Climate Change Economics
Writing Samples
Does Equity Behave like a Component of the Cost of Capital?
Bonen, Semmler, and Klasen - Economic Damages From Climate Change: A Review Of Modeling Approaches
Leverage Cycles in the Household Sector: Assessing the Early Warning Signs in Canada and the United States
Profile
After completing my BA (Honours) in Economics and Political Science at Carleton University (Ottawa, ON), I studied international political economy and economic law at the University of Kent's Brussels School of International Studies.
Since coming to The New School I have developed technical skills in modeling, statistical analysis and programming (e.g., Stata, R, Mathematica, LateX). My dissertation applies these quantitative techniques to the economic theory of the firm and corporate governance in an explicit legal-institutional framework. The theoretical starting point is the socio-legal role of the shareholder within the corporation. However, the research program is primarily empirical. I test whether the expected return to equity behaves like a component of the cost of capital in accordance with
q
theory and Modigliani-Miller capital structure theory. The analysis is conducted through a non-nested linear mixed effects model (LMM), a panel approach heretofore unused in the investment and finance literature. Further, the dissertation explains the counter-cyclical fluctuations in the cost of capital as being driven by firms' pro-cyclical payout policies, which is enabled by share repurchases.
I look forward to applying my empirical and analytical skills in public, private and academic forums.
Selected Publications
Bonen, Anthony and Teresa Ghilarducci (2014), "The Surprising Equality of Retirement Time: Evidence from the Health and Retirement Survey." Connecticut Insurance Law Journal, 20(2), 405–432.
Teaching Statement
Finance, Property and the Corporate Form: 3rd-year undergraduate seminar at Lang College - The New School.
Advanced Macroeconomics (TA): Required PhD course at the New School for Social Research.
TA sessions taught technical material independently of the lecture.
Introduction to Economics (TA): Full-year course at Carleton University. TA sessions included 20-30 students.
Contact Information
bonea539@newschool.edu
Julia Margarete Puaschunder
Expected Completion
Spring 2018
Dissertation Title
Mapping Climate Justice
Dissertation Abstract
Climate justice accounts for the most challenging global governance goal. In the current climate change mitigation and adaptation efforts, high and low income households but also developed and underdeveloped countries as well as various overlapping generations are affected differently.
The dissertation proposes to map international climate change mitigation and adaptation regimes in order to derive fair climate stability implementation strategies. Based on insights on the current endeavor to finance climate change mitigation and adaptation around the globe, a 3-dimensional climate justice approach will be introduced. The dissertation targets at alleviating the contemporary global governance predicament that seems to pit today’s generation against future world inhabitants in a trade-off of economic growth versus sustainability. Deriving respective policy recommendations for the wider climate change community is aimed at ensuring to share the burden but also the benefits of climate change within society, between countries and over time in an equitable and fair way.
Profile
Research Interests
Economics, Public Policy, Business Administration, Public Policy, Law
Writing Samples
Writing Sample
Profile
Julia Margarete Puaschunder studied Philosophy/Psychology (MPhil, University of Vienna, 2003), Business (MBA, Vienna University of Economics and Business, 2007), Public Administration (MPA, Maxwell School, 2008), Social and Economic Sciences (Doctor, Vienna University of Economics and Business, 2006), Natural Sciences (Doctor, University of Vienna, 2010), Law and Economics (pending).
Courses Taught
‘Behavioral Approaches to Public Administration,’ Spring 2017, The New School, New York
‘The 2016 Presidential Election in the United States: Clinton versus Trump,’ Fall 2016, The New School Department of Politics, New York
‘Strategic Design and Management in New Economies,’ Fall 2016, Parsons School of Design, The New School, New York
‘Introduction to Political Economy,’ Fall 2016, Parsons School of Design, The New School, New York
‘Economics and Politics of Global Warming,’ Teaching Assistant, Spring 2015, Eugene Lang College, The New School, New York
Selected Publications
For full publications list: https://juliampuaschunder.com/economics-of-climate-stability/
Teaching Statement
Throughout her academic career, Julia was invited to present her research at Harvard University, Princeton University, Columbia University, Brown University, Oxford University and Cambridge University as well as The Academic Council on the United Nations System. Julia organized conferences and public speakers from the Harvard Business School and Princeton University at the University of Vienna and the Vienna University of Economics and Business. Currently, she supports the Economics of Climate Change Project Speaker Series hosted at The Schwartz Center for Economic Policy Analysis of The New School for Social Research in New York City.
Contact Information
Julia.Puaschunder@gmail.com
Katherine Moos
Expected Completion
Spring 2017
Curriculum vitae (PDF)
Dissertation Title
Essays on the Theory and Political Economy of Economic Policy
Profile
Research Interests
Political economy of the welfare state, industrial organization, labor relations, theories of monetary and fiscal policy, feminist economics
Areas of expertise
Political Economy, Microeconomics, Macroeconomics
Courses Taught
Economics of Health (masters)
Regulating Land, Labor, and Capital: The Political Economy of Social, Environmental and Economic Policy (undergraduate, open-level)
Controversies in Microeconomic Theory and Policy (undergraduate, intermediate-level)
Selected Publications
Stabilization Policy – Phillips before the Phillips Curve.” Co-authored with K. Vela Velupillai. Global and Local Economic Review. Vol. 18. No. 1. 2014.
“Teorias Da Competição E As Crises Do Capitalismo.” (“Theories of Competition and the Crisis of Capitalism.”) Co-authored with Anwar Shaikh. Rubra Revista. Winter 2015, No. 21,13.
“The Transvaluation of the Theory of Economic Policy: The Lucas Critique Reconsidered.” New School for Social Research, Working Paper 03/2016. May 2016.
Review of“Finding Time: The Economics of Work-Life Conflict” by Heather Boushey, Review of Political Economy, 28(3) and Feminist Economics, 22(4).
Contact Information
kmoos@newschool.edu
Personal Website
Percival Pineda
Expected Completion
Spring 2017
Dissertation Title
Essays in Financial Liberalization in ASEAN 4 Countries
Dissertation Abstract
This dissertation includes three essays on financial liberalization in the ASEAN 4 countries: Indonesia, Malaysia, Philippines, and Thailand using data from 1990 to 2011. It explores the effects of financial liberalization on the cost of capital, investment, and borrowing behavior of the firm sector in ASEAN 4 countries. Essay one calculates an aggregate tax-adjusted weighted average cost of capital. Empirical results show that the cost of capital in ASEAN 4 significantly decreased since financial liberalization. Essay two analyzes the investment behavior of the firm sector since financial liberalization. Stepwise least square forward multiple regression shows that future changes on the return of capital affects investment in Indonesia, Malaysia, and Thailand while future changes in the cost of capital affects investment in the Philippines. Breaking down the cost of capital in terms of debt and equity, future changes in the cost of debt, not the cost of equity, matters for investment in Indonesia, Malaysia, and Thailand along with future changes in the return of capital. These results suggest that current and expected returns on capital and cost of debt explains investment behavior in ASEAN 4 except in the Philippines. Essay three calculates an optimal debt-to-net worth ratio and shows that lower cost of capital since financial liberalization led to episodes of excessive borrowing by the firm sector in ASEAN 4 economies except in the Philippines.
Contact Information
pinep498@newschool.edu
Houda Rabah
Expected Completion
Spring 2017
Curriculum vitae (PDF)
Dissertation Title
Optimization of a portfolio with restrictions on the assets selected and weights using the Markowitz model and CAPM - Islamic Finance (Ethical investment)
Dissertation Abstract
The essence of the Islamic portfolio is that it is Sharia compliant. People who want to invest in these funds are looking for the ultimate "hallal" or permissable investments. Although return is a key to any investment, Islamic investors are looking for more than just the return. With this in mind, my research concentrates on getting insights to how to manage the Islamic funds and which criteria are better to use. I will study 3 groups of portfolios and compare their returns and variances: the most compliant portfolios, the "middle mark" sharia compliant, and the least compliant portfolio. We will answer the question: Should investors' choose stricter (compliant) portfolios or are they better off with the least amount of compliance.
Areas of expertise
Finance modeling and management, islamic finance, business intelligence, econometrics/statistics
Contact Information
rabah246@newschool.edu